Commentary: How a US$20M TSMC tape-out led to Xiaomi’s 3nm breakthrough

At Xiaomi’s 2025 annual conference, founder Lei Jun spoke with calm restraint about the company’s self-developed Xring O1 chip. Yet beneath that composure were moments of risk and suspense: the US$20 million bill for the first TSMC 3nm tape-out, engineers guarding chip samples in an unmarked paper bag at the airport, and the late-night message, “system lit up.” When Lei answered his first call powered by the Xring O1, the wave of emotion was indescribable, the kind only insiders could fully understand.

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LCD TV panel prices hold steady as China cuts production, rebound expected in Q1 2026

Prices for LCD TV panels stabilized in the third quarter, following months of decline, and remained flat across all sizes in August and September. As the industry moves into the fourth quarter, demand for LCD TV panels is expected to soften. However, Chinese producers are set to scale back output during the National Day holiday. Industry executives anticipate that supply and demand will remain balanced through year-end, limiting price swings; however, a rebound in the first quarter of 2026 cannot be ruled out.

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Lei Jun’s ten-year bet: Why Xiaomi chose hard road to chip independence

On the evening of September 25, Xiaomi founder and CEO Lei Jun took the stage for his sixth annual keynote, titled simply: “Change.” But behind the polished presentation was the story of a company that nearly walked away from one of the most defining — and divisive — decisions in its history: whether to build its own smartphone chips, or abandon the dream for good.

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